Vince Holding Corp (NYSE:VNCE) Q2 2020 Earnings Conference Call - Final Transcript
Sep 14, 2020 • 04:30 pm ET
an increase in seasonal inventory levels in the second quarter. We plan to move through the remainder of excess inventory through our outlet channel and off-price partners in addition to promotional activities.
Further, we believe that our merchandise assortment will remain relevant in future seasons, and therefore, a portion of carryover. Overall, we are comfortable with this strategy and believe we will move through the excess inventory and get back to more normalized levels over time. As stated in our press release published this afternoon, due to the uncertainty related to the impact of COVID-19, we will not be providing guidance at this time.
In conclusion, first and foremost, we have a great team of dedicated leaders and individuals who have a clear vision for the future events in Rebecca Taylor and the opportunities that lie ahead. We believe the market-leading position of the Vince brand in the fashion contemporary luxury space and the resiliency to expand this leading positioning during the COVID pandemic further support our ability to take advantage of opportunities post-COVID. In addition, we believe Rebecca Taylor is poised to replicate the Vince recovery and growth playbook. Although there is currently a lot of uncertainty surrounding the retail environment, we remain confident that our portfolio of brands are well positioned to deliver long-term sustainable growth for our shareholders.
This concludes my comments regarding our second quarter. We will now take your questions. Operator?